Just marveling today that when I got my first car way-back-when, I was paying $6.99 for a CASE of motor oil (12 quart jugs in a case).
Today, it costs almost that much for one quart, despite advances in technology, more efficiency in manufacturing and distribution, and no actual scarcity of raw materials.
So, the price has gone up by a factor of about 10.
Prices do not naturally go up, except when there is a problem in production/distribution or significant increase in demand. Supply & demand.
All other increases are artificisl due to actions by the private Federal Reserve Bank or politicians within our government. In those cases, inflation represents their profit margin — an undercover tax on working people. Politicians send money to countries who kick back a percentage to them, or reward their political supporters with cash or lucrative government handouts, or punish their political opposition by taxing or over-regulating their businesses.
And, we foot the bill for their payoffs.
Banksters create money out of nothing and loan it to us at interest. Ditching the gold standard made it possible for them to make almost limitless profit.
I don’t know about the rest of you, but my income has not gone up by a factor of 10 during my lifetime. Not even close.
You’d think people would be up in arms about something like this. But, it works like a charm for the billionaires because of the “boiling frog” technique. They do it little by little. And now they have created a cultural idea that “of course prices go up over time. That’s just the way it goes. It’s the natural order of things”
But it shouldn’t be that way. Artificial inflation (outside of the supply and demand components) represents the value that gangsters have stolen from our money. Stolen from US.
Meanwhile, they have deflated the value of our money so much that we now have to have 2-income families to have a standard of living close to what our parents had.